Retail b N Dakota

Minneapolis' Oppidan Investment Company sells apartment complex, grocery store

  

Minneapolis-based Oppidan Investment Company has sold its Pheasant Ridge II apartment complex in Watford City, N.D., and Cash Wise grocery store in Tioga, N.D.

Minneapolis-based Oppidan Investment Company has sold its Pheasant Ridge II apartment complex in Watford City, N.D., and Cash Wise grocery store in Tioga, N.D.

Oppidan completed construction of Pheasant Ridge II, a 42-unit apartment building, in May of 2014. The building, which is identical and adjacent to Pheasant Ridge I, is 100 percent occupied. The complex was purchased by New York-based Trei Pheasant B Holdings, LLC earlier this month.

Oppidan also completed construction of a 36,052-square-foot Cash Wise grocery store in Tioga in May of this year. Cash Wise, which is a separate building in a larger development, was purchased by ARCP CO Tioga ND, LLC, an LLC owned by Phoenix-based American Realty Capital Properties, in late June of this year.

Earlier this year, Oppidan finalized the sales of three apartment complexes in Watford City and Williston, N.D.